Market access agreement - milestone in Russia's bid to join WTO
21 Nov '06
3 min read
U.S. Trade Representative Susan C. Schwab and Russian Minister of Trade and Economic Development German Gref signed a bilateral market access agreement that is an important element in Russia's accession to the World Trade Organization (WTO).
Completion of this bilateral agreement marks a significant milestone in Russia's bid to join the WTO.
"I am pleased that we have concluded this important agreement in connection with Russia's WTO accession negotiations. This is a strong and far-reaching commercial agreement that meets the high standards of President Bush's market-opening trade agenda and moves Russia closer to full integration into the global, rules-based trading system.”
“Russia has become an increasingly important destination for American agricultural goods, a range of services, and manufactured products – and as Russia's market opens further as a result of its WTO membership, its importance will only grow,” Ambassador Schwab stated.
The bilateral agreement will create significant new opportunities for U.S. producers and exporters of industrial and agricultural goods, as well as U.S. services providers, when it enters into effect.
The agreement also provides for the immediate implementation of some market opening actions for industrial and agricultural goods.
The agreement resolves long-standing bilateral issues related to trade in agricultural goods, and also puts in place a strong and enforceable bilateral blueprint for protection and enforcement of intellectual property rights (IPR).
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